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South Korea is Drafting New Blockchain Industry Classification Standards
South Korea Announces New Classification Standards for The Blockchain Industry and Legitimizes It It seems like the battle for legitimacy that the blockchain and cryptocurrency industry is facing in South Korea seems to be near its end. дальше »
2018-7-5 23:18 | |
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South Korea legitimizes Blackheine business with major new classification standards
The South Korean government is drafting major new industry classification standards for the domestic blockchain industry, local crypto news outlet The BChain reports Thursday, July 5. The scheme will reportedly serve as a basis for policy making, notably aimed towards “blockchain promotion and regulatory frameworks,” and covers areas including blockchain systems construction, decentralized applications (DApps) дальше »
2018-7-5 19:23 | |
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Korean Authorities Investigating Personal Data Security of Crypto Exchanges
The Korean Communications Commission (KCC) and the Korean Internet & Security Agency (KISA) will be launching a joint probe into crypto exchange operators’ handling of personal data, Chosun news reports Monday, July 2. дальше »
2018-7-3 02:32 | |
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Korean Specialists to Test Crypto Exchanges’ Taking care of of Individual Data
Two Korean watchdogs have announced a joint probe into crypto exchange operators’ handling of personal data, local news outlet Chosun reports Monday, July 2. The probe will reportedly check the status of technical and administrative protection measures related to users’ personal data – covering data access control measures, anti-tampering measures, personal data encryption, and malware дальше »
2018-7-2 20:12 | |
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Korean Authorities to Probe Crypto Exchanges’ Handling of Personal Data
Korean authorities, the KCC and KISA, have announced a joint probe into crypto exchange operators’ handling of personal data together with third party service providers
дальше »2018-7-2 18:30 | |
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Korean Messaging App Kakao to Raise Funds for Crypto Move
The company behind Kakao, the most popular messaging app in South Korea, has suggested it will do a private placement next month to raise money for a crypto platform. The platform will be separate from the messaging app due to concerns over the lack of ICO regulations, Bloomberg reported on June 28. дальше »
2018-7-2 05:30 | |
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South Korea Unveils New Supportive Crypto Regulations
The South Korean Financial Services Commission (FSC) had released a new regulatory framework and Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines for cryptocurrency exchanges in the country. дальше »
2018-7-1 14:49 | |
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Bithumb Finally Disclose Full Details Of Recent Hack
Bithumb, the South Korean cryptocurrency exchange are no strangers to being hacked. With this in mind, they have developed quite the approach for dealing with the hacks, so I guess in this respect, at least they are now quite experienced in dealing with their customers best interests in the wake of such events. дальше »
2018-7-1 11:00 | |
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Kakao Messenger Scoping For Partners In Blockchain Services For Its Ground X Corp
Ground X Corp,the blockchain Kakao startup is in the market ,hunting for established blockchain players who will fund its growth in Asia. For this purpose, it is seeking out consumer-service companies to build capital and business alliances. дальше »
2018-6-30 14:40 | |
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Its Stance on Crypto To Become Blockchain Haven South Korea Reviews
Brief history of crypto regulation in South Korea South Korea has been closely regulating the crypto industry. The demand for crypto was so high that cryptocurrencies were traded at prices more than 30 percent higher than in other countries. дальше »
2018-6-29 16:34 | |
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Bithumb Reveals 11 Cryptocurrencies Lost and Plan to Compensate Customers
South Korean crypto exchange Bithumb has announced the 11 cryptocurrencies stolen in last week’s theft and the amount of each coin missing. A compensation plan has also been unveiled for the equivalent value of the lost coins in an undetermined cryptocurrency. дальше »
2018-6-29 04:55 | |
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South Korean Financial Watchdog Releases Stricter AML Guidelines for Virtual Currencies
South Korea’s Financial Services Commission released new AML guidelines that require crypto exchanges to conduct proper customer ID due diligence
дальше »2018-6-29 21:55 | |
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How to retrieved $14 million hacked cryptos
As previously reported by CoinDesk, Bithumb, one of the largest crypto exchanges in South Korea and the world by trading volume, was hacked on June 20 – an event that saw 35 billion Korean won ($31 million) in various cryptocurrencies stolen. дальше »
2018-6-28 16:50 | |
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Contradictory Reports Emerge on Crypto Taxation in South Korea
One of the most controversial topics in the crypto industry, taxation, has yet to be settled by regulators. The industry has been kept guessing what policies regulators will eventually agree on, and with different regions and countries having very different outlooks on cryptocurrency, there is no telling what laws to anticipate. The South Korean crypto […] дальше »
2018-6-27 17:00 | |
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Korean Watchdog Tightens Rules on Crypto Exchange Bank Accounts
Banks in South Korea are now required to monitor all accounts held by crypto exchanges following a tightening of anti-money laundering measures. дальше »
2018-6-27 12:40 | |
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What Koreas Crypto scene is saying
At the time, the popular South Korean cryptocurrency exchange tentatively announced a “cyber intrusion” that saw the loss of $40 million worth of cryptocurrencies. If that wasn’t enough, on June 20, Bithumb – South Korea’s largest by trade volume – also announced a major security breach in which $31 million was reported to be lost. No strangers to дальше »
2018-6-27 00:48 | |
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South Korean Firms Flock to Singapore for ICO Purposes
Even though the initial coin offering industry has attracted a lot of attention, it is also a problem. Especially when it comes to regulation, the opinions on ICOs are quite divided. With South Korea still banning this activity, a fair few domestic firms are organizing ICOs in Singapore due to its regulatory-friendly climate. Singapore Welcomes […] дальше »
2018-6-26 21:00 | |
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South Korean Insurers Wary of Cryptocurrency exchanges
Insurance companies in South Korea are not very forthcoming in providing insurance for crypto exchanges in the country. Despite being the nation with the most prolific cryptocurrency users, exchanges and thriving digital assets business, insurance companies in South Korea are wary of providing coverage for Crypto Exchanges. дальше »
2018-6-26 19:06 | |
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The Next South Korean Cryptocurrency Exchange Tangled In Security Drama
Is it me, or has ‘South Korea’ become a byword for ‘poor cryptocurrency exchange security’? It seems that of late, cryptocurrency exchanges in South Korea are surrounded by security issues that are seeing very large-scale hacks take place, hacks that have allowed for the theft of tens of millions of USD worth of crypto-assets. дальше »
2018-6-26 16:30 | |
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South Korea’s Ministry of Finance Says 10 Percent Crypto Tax Not True
South Korea finally responded to recent rumors stating that it will impose a 10 percent tax on cryptocurrency trading profits. According to a recent report, the country’s Ministry of Finance had already denied the existence of such a taxation scheme. дальше »
2018-6-26 14:49 | |
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Crypto Exchanges Struggle to Get Insurance After Recent Hacks
The Korean Blockchain Association thought it was offering a win-win scenario to insurers when it previously held a briefing session to select a preferred carrier. It was offering insurance companies a package that included numerous exchanges while using that group to negotiate the best plan for its members, but due to the cost of recent hacks on. дальше »
2018-6-26 13:00 | |
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South Korean Cryptocurrency Exchanges Struggle To Find Insurers
Due to recent security breaches and thefts among some large-scale cryptocurrency exchange platforms, the need for exchange insurance is booming. Many insurance companies, however, are hesitant to take the risk — citing their distrust in current security measures. дальше »
2018-6-26 03:00 | |
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South Korea to Invest $230M in Blockchain Technology Development
The Ministry of Science and ICT of South Korea revealed a Blockchain Technology Development Strategy on June 21st earmarking a total of 230 billion Won (over of $200M USD) for the development of blockchain-based technology. дальше »
2018-6-25 02:00 | |
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Brian Kelly & Charlie Lee “Bitcoin Is Still Bullish”
Despite the recent hack on Bithumb, in which over $30 million worth of cryptocurrencies was culminated by the hackers, Brian Kelly and Charlie Lee remain ‘bullish’ on Bitcoin. This week, the South Korean exchange, one of the largest cryptocurrency exchanges, Bithumb was hacked which led to the theft of $31 million virtual currency’s. дальше »
2018-6-24 22:30 | |
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6 Reasons Why Bitcoin Price is Down — (And Some Positive News Too)
As the week comes to a close, let us reflect on and digest all the news — most of which was negative, that happened in the cryptocurrency arena affecting Bitcoin price. Oh Look, Another Exchange Hack Tuesday evening, popular South Korean cryptocurrency exchange Bithumb reported a system breach that resulted in approximately $31 million worth of cryptocurrencies being stolen. дальше »
2018-6-24 23:00 | |
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Are Centralized Exchanges Breaking the Crypto Promise?
Exchange hacks are becoming the new normal. Just two weeks after Conrail’s $37. 2 million hack, it was time for Bithumb’s $31 million hack, with the difference being that Bithumb is the world’s sixth largest cryptocurrency exchange based on CoinMarketCap data, far larger than Coinrail. дальше »
2018-6-24 23:00 | |
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Litecoin Founder Remains Optimistic Despite Recent Bithumb Hack
Charlie Lee, the developer behind the world’s sixth-largest cryptocurrency, Litecoin, believes the price of Bitcoin and other cryptocurrencies will recover “fairly soon”. Lee shared his thoughts on the current bear market, what developments in the industry excite him the most, and the recent hack on Bithumb, the South Korean crypto exchange. The hack does not […] дальше »
2018-6-24 21:00 | |
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A 230 Billion Won Government Pump Awaits Korean Blockchain Sector
The Ministry of Science and ICT of South Korea announced its blockchain technology development strategy on June 21. The government aims to provide 230 billion won (~$207 million) for boosting development of distributed ledger technology in the country. дальше »
2018-6-23 14:38 | |
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Bithumb reduces shrink-Agrees to reimburse customers
Exchanges South Korean exchange Bithumb has lowered its theft estimate from the original amount after undergoing some of the recovery process. The exchange promises to fully repay customers using its own fund even though its insurance is unlikely to cover the loss. дальше »
2018-6-23 04:05 | |
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Bitcoin, Ethereum Slide Back in to Red as Market Reacts to Japanese Regulation, South Korean Tax Confusion
The cryptocurrency market has swung violently back into the red due to a series of regulatory movements from Asia, spooking skittish market participants. Bitcoin and Ethereum plummeted by almost 10% as Japanese regulators crack down on exchange action. дальше »
2018-6-23 02:13 | |
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Bithumb Lowers Theft Estimate – Will Fully Repay Customers Despite Deficient Insurance
South Korean exchange Bithumb has lowered its theft estimate from the original amount after undergoing some of the recovery process. The exchange promises to fully repay customers using its own fund even though its insurance is unlikely to cover the loss. дальше »
2018-6-23 01:40 | |
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South Korean Gov’t to Invest $200 Mln in Blockchain Initiatives
Despite recent exchange hacks, the blockchain industry continues to thrive in countries worldwide. On June 21, 2018, the South Korean government announced intent to invest over $200 million into blockchain initiatives by 2022. дальше »
2018-6-23 15:00 | |
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Korean Government to Fund Six Blockchain Projects with $9 Million
The country has sights set on being one of the leaders in blockchain technology and has made a strong statement after the Ministry of Information and Communication Technology (ICT) revealed in a report that 10 billion Korean won (app. дальше »
2018-6-22 13:44 | |
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Two Huge Hacks In Two Weeks Didn’t Crash The Markets, Here’s Why
Yesterday, we saw news of another hack of the South Korean cryptocurrency exchange, Bithumb, the hack, resulted in the theft of over $30 Million. Just over a week ago, we also saw a similar scale hack take hold of (another South Korean cryptocurrency exchange) Coinrail, this time, we saw theft in excess of $40 Million. дальше »
2018-6-22 13:30 | |
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Korean Government to Lead 6 Blockchain Pilots With $9 Million Finance
The South Korean government will invest 10 billion Korean won (or $9 million) to support blockchain development in the country, with plans to carry out six pilots using blockchain technology. According to a report from CoinDesk Korea, the country’s Ministry of Science and ICT published a blockchain development strategy on Thursday. The agency said the government plans to дальше »
2018-6-22 11:53 | |
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Korea begins probe into crypto-currency hacking attacks
Regulation Following the alleged hacks of South Korean crypto exchanges, the government has formally launched an investigation into the cause of the hacks. Japan Confirms Entrance Into the Crypto Space Government’s Response The South Korean government announced on Wednesday, June 20, that it has formally launched an investigation into the cause of the alleged security дальше »
2018-6-22 09:11 | |
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Korean Government to Lead 6 Blockchain Pilots With $9 Million Fund
A South Korean government agency has announced a plan to boost blockchain adoption in the country. дальше »
2018-6-22 09:03 | |
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Still Bullish on Bitcoin Despite Bithumb Hack: Brian Kelly and Charlie Lee Weigh In
Both Brian Kelly and Charlie Lee remain bullish on Bitcoin despite the recent hack of Bithumb, which resulted in the theft of over $31 million worth of cryptocurrencies. Brian Kelly: Things are Different for Bitcoin This Time Around Earlier this week, South Korean exchange Bithumb – currently the eight largest cryptocurrency exchange by means of trading volumes – was hacked, resulting in the theft of more than $31 million worth of cryptocurrencies. дальше »
2018-6-22 09:00 | |
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